Community Health Systems Announces Definitive Agreement to Sell Tomball and Jourdanton, Texas Hospitals to HCA
May 01 2017 - 6:47PM
Business Wire
Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries of the Company have signed definitive agreements to
sell two Texas hospitals and their associated assets to
subsidiaries of HCA (NYSE: HCA). Hospitals included in the
transaction are 350-bed Tomball Regional Medical Center in Tomball
and 67-bed South Texas Regional Medical Center in Jourdanton.
South Texas Regional Medical Center will be acquired by
Methodist Healthcare System of San Antonio, Ltd., L.L.P, a
partnership between HCA and Methodist Healthcare Ministries.
The transaction is expected to close in the summer of 2017,
subject to customary regulatory approvals and closing
conditions.
The two hospitals in this transaction are part of the planned
hospital divestitures previously discussed. The Company will
provide an update on its divestiture activity on its first quarter
2017 earnings call scheduled to begin at 11:00 a.m. Central
time, 12:00 p.m. Eastern time, on Tuesday, May 2, 2017.
About Community Health Systems, Inc.
Community Health Systems, Inc. is one of the largest publicly
traded hospital companies in the United States and a leading
operator of general acute care hospitals in communities across the
country. The Company, through its subsidiaries, owns, leases or
operates 146 affiliated hospitals in 21 states with an aggregate of
approximately 24,000 licensed beds. The Company’s headquarters are
located in Franklin, Tennessee, a suburb south of Nashville. Shares
in Community Health Systems, Inc. are traded on the New York Stock
Exchange under the symbol “CYH.” More information about the Company
can be found on its website at www.chs.net.
Forward-Looking Statements
Statements contained in this news release regarding potential
transactions, operating results, and other events are
forward-looking statements that involve risk and uncertainties.
Actual future events or results may differ materially from these
statements. Readers are referred to the documents filed by
Community Health Systems, Inc. with the Securities and Exchange
Commission, including the Company’s annual report on Form 10-K,
current reports on Form 8-K and quarterly reports on Form 10-Q.
These filings identify important risk factors and other
uncertainties that could cause actual results to differ from those
contained in the forward-looking statements. The Company undertakes
no obligation to revise or update any forward-looking statements,
or to make any other forward-looking statements, whether as a
result of new information, future events or otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170501006426/en/
Community Health Systems, Inc.Investor Contacts:W. Larry
Cash, 615-465-7000President of Financial Services and Chief
Financial OfficerorRoss W. Comeaux, 615-465-7012Senior Director –
Investor RelationsorMedia Contact:Tomi Galin,
615-628-6607Senior Vice President, CorporateCommunications,
Marketing and Public Affairs
Community Health Systems (NYSE:CYH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Community Health Systems (NYSE:CYH)
Historical Stock Chart
From Apr 2023 to Apr 2024